Common use of Due Organization, Qualification, Power, Authority and Due Authorization Clause in Contracts

Due Organization, Qualification, Power, Authority and Due Authorization. Seller is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and it has qualified to do business in each jurisdiction in which it is legally required to do, provided that if Seller subsequently fails to so qualify, it rectifies the failure to qualify within one (1) Business Day of notice or knowledge of such failure. Seller has the power and authority under its certificate of formation, operating agreement and applicable law to enter into this Agreement and the Program Documents and to perform all acts contemplated hereby and thereby or in connection herewith and therewith; this Agreement and the Program Documents and the transactions contemplated hereby and thereby have been duly authorized by all necessary action and do not require any additional approvals or consents or other action by, or any notice to or filing with, any Person other than any that have heretofore been obtained, given or made.

Due Organization, Qualification, Power, Authority and Due Authorization. Seller It is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and organization, (x) it has qualified to do business in each jurisdiction in which it is legally required to dodo so, provided that if Seller subsequently fails to so qualify, (y) it rectifies the failure to qualify within one (1) Business Day of notice or knowledge of such failure. Seller has the power and authority under its certificate of formationincorporation, operating agreement bylaws (or, in the case of the REO Subsidiary, its certificate of formation and the LLC Agreement) and applicable law to enter into this Agreement and the Program Documents and to perform all acts contemplated hereby and thereby or in connection herewith and therewith; therewith and (z) this Agreement and the Program Documents and the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action and do not require any additional approvals or consents or other action by, or any notice to or filing with, any Person other than any that have heretofore been obtained, given or made.

Due Organization, Qualification, Power, Authority and Due Authorization. Seller is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and it has qualified to do business in each jurisdiction in which it is legally required to dodo so other than as would not, provided that if Seller subsequently fails in the aggregate, reasonably be expected to so qualify, it rectifies the failure to qualify within one (1) Business Day of notice or knowledge of such failurehave a Material Adverse Effect. Seller has the power and authority under its certificate of formation, operating agreement and applicable law to enter into this Agreement and the Program Documents and to perform all acts contemplated hereby and thereby or in connection herewith and therewith; this Agreement and the Program Documents and the transactions contemplated hereby and thereby have been duly authorized by all necessary action and do not require any additional approvals or consents or other action by, or any notice to or filing with, any Person other than any that have heretofore been obtained, given or mademade or filings and recordings in respect of the Liens created pursuant to the Program Documents.